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Toyota settles first wrongful death suit related to unintended acceleration

Toyota's sales seem to have rebounded from the unintended acceleration issues from 2009 and 2010, but the automaker is far from done dealing with this situation. Following a settlement worth up to $1.4 billion for economic loss to affected vehicle owners, Toyota has settled rather than going to trial in a wrongful death lawsuit stemming from an accident in Utah in 2010 that left two passengers dead. This isn't the first case in which Toyota has settled, but it was the first among a consolidated group of cases being held in Santa Ana, CA.
According to The Detroit News, this case was scheduled to take place next month, and it was for a November 2010 incident in which Paul Van Alfen and Charlene James Lloyd were killed in a Camry when, based on findings by the Utah Highway Patrol, the accelerator got stuck causing the car to speed out of control and hit a wall; the terms of the settlement were not announced.
The article says that while Toyota will settle on some cases, it doesn't plan on settling on all of them as it still wants to be able to "defend [its] product at trial." This will probably be the case in suits claiming that software for the drive-by-wire accelerator was the cause of an accident in a Toyota or Lexus vehicle. The question of whether or not the electronic accelerator played any role in this problem has been a hot-button topic since the beginning. Toyota has issued recalls in the past to attempt to prevent unintended acceleration caused by trapped floor mats and faulty accelerator pedals, but it also says driver error was to blame in some instances.

Toyota projecting record profits, thanks in part to weak yen

Toyota retained its global sales crown in 2014 by selling 10.23 million cars in the calendar year. As the positive number might suggest, the Japanese automaker is doing extremely well financially, too. Although, some tougher times might be on the horizon. Toyota recently released its financial figures for the three fiscal quarters running from April 1 through the end of December 2014. Net profit jumped an impressive 13.2 percent to 1.727 trillion yen ($14.7 billion) for that period. It could be the Japanese automaker's most profitable time ever when the fiscal year ends in March, if things keep going this way, according to The New York Times. Toyota's own profit forecast for the 12-month period is also up by 130 billion yen ($1.1 billion) to 2.13 trillion yen ($18.1 billion). One key to the company's success is the low value of the Japanese yen, because it allows Toyota to make more money on each vehicle the company sells abroad. The currency is now worth relatively less than any time since the early '70s, according to The New York Times. Despite the rosy financial numbers, actual sales have started to fall, albeit a very slight amount. Through the three fiscal quarters, the company sold 6.73 million cars, a drop of just 45,365 vehicles. Toyota also reduced its forecast for the fiscal year to 9 million units, rather than the original estimate of 9.05 million. According to The New York Times, the shrinking Japanese auto market and difficulty in China might mean losing the global sales lead next year. For the US, sales jumped 145,411 units from April through December to a total 2.1 million vehicles. Operating income reached $4.27 billion, nearly 50 percent more than last year, according to The New York Times. Toyota Motor Corporation (TMC) Announces April – December 2014 Financial Results February 04, 2015 Toyota's global net income jumped 13.2 percent during the nine-month period (April 1– December 31, 2014) of the 2015 fiscal year. Global Financial Highlights: Global sales decreased by 45,365 vehicles to 6.73 million, with strong sales in North America and gains in Europe, offsetting decreases in Japan and other regions.

Takata air bag recall list

The National Highway Traffic Safety Administration confirmed yesterday that 33.8 million vehicles with Takata airbags are going to be recalled. It's the largest recall in automotive history. The already record-breaking rate of automotive recalls this year shows no signs of slowing down, especially since millions of cars with defective airbags made by global supplier Takata are under ongoing scrutiny. The federal government is warning owners that inflator mechanisms in the air bags can rupture, causing metal fragments to fly out when the bags are deployed. The faulty air bags have already been blamed for multiple deaths. How do you know if your vehicle is safe? The National Highway Traffic Safety Administration released an updated list of vehicles under recall. Sometimes however, the government's website will crash and the list may not be complete. Check your VIN at the NHTSA website to make sure. The list of cars affected by the recall has not been released, but seem to span multiple models over the years for many of the automakers.